Amyotha Hluttaw Speaker arrives at the 4th day of the second Amyotha Hluttaw 5th regular meeting in Nay Pyi Taw.
Union Minister for Industry U Khin Maung Cho says their ministry is working with banks to reduce interest rates for loans for small and medium-sized enterprises (SMEs) in Chin State, during the 4th day of the second Amyotha Hluttaw 5th regular meeting held yesterday.
The minister made his remarks in response to a question raised by Hluttaw representative Daw Khin Swe Lwin from Chin State constituency (9), asking whether international loans with low interest rates will be used to help SMEs in Chin State.
To provide loans to SMEs in Chin State, a loan of ¥5 billion (approx. Ks50 billion) was received from Japan International Cooperation Agency (JICA) in 2015. Since 2016, an amount of Ks 41.558 billion from that international loan has been distributed to KBZ bank, Myanmar Citizens Bank, Small and Medium Industrial Development Bank (SMIDB), Ayeyawady Bank (AYA), Co-operative Bank (CB), and Myanma Apex Bank so that 186 business owners in ten states and regions can take out loans.
Discussions are being made with the Board of Directors from each bank to provide the remaining Ks 8.441 billion as loans to industrial workers in Chin State such as Chin traditional rattan weavers, ginger planters, yam planters, avocado planters, and coffee bean planters.
Union Minster U Khin Maung Cho said there are currently no petitions submitted for acquiring international loans with low interest specifically for SMEs in Chin State, but if anyone wishes to petition, it can be submitted by the State government to the Union government, to the Central Committee for Development of Small and Medium Enterprises, and to the Ministry of Planning and Finance with the Ministry of Industry giving assisting where necessary.
Next, Dr. Kyaw Than Htun (Kantong) of Mandalay Region constituency (3) raised the question on whether the Myanmar Pharmaceutical Factory (MPF) had plans to plant artemisia plants for use in medicine to combat malaria. Union Minister U Khin Maung Cho replied that the MPF (formerly known as BPI-Burma Pharmaceutical Industry) is able to produce 6,300 tablets and 700 packets of piperamisinin from one ton of artemisia. The cost for production from one ton of artemisia is Ks 2,892,400 and Ks 4,132 for the production of one packet of the medicine. Because antimalarial drugs containing artemisia imported from China cost only Ks 1,500 per packet, the Ministry of Industry also sells the packets to the Ministry of Health and Sports at Ks 1,500 at a huge financial loss.
The Switzerland-based Global Fund 3 Disease Project provides antimalarial drugs for free and the Ministry of Health and Sports distributes Pandomar antimalarial drugs in packets of 24 for only Ks300 under the National Malaria Control Program. Pandomar is produced with cooperation from AA pharmacy and other donor organisations.
Since antimalarial drugs from BPI cost Ks167 per pill and a Pandomar pill costs only Ks13, BPI stopped production of piperamisinin tablets on 24 August 2011, unable to compete with the low price.
Next, Deputy Minister for Education U Win Maw Tun answered questions concerning the education sector raised by Hluttaw representative from Chin, Bago, and Kayah constituencies.
Afterwards, two Hluttaw representatives discussed the draft bill amending the Conservation of Water Resources and Rivers Law.